The process couldn’t be any simpler: After subcontractors submit their time and expense data through the portal, VPConnect collects all of the employee information and builds an invoice electronically for approval. Three categories of invoice detail records can be entered: labor, travel and ODC/fees. Subcontractors can also upload any supporting documents in vendor portal to facilitate invoice approval.
VPConnect’s web portal controls and validates what data is entered against the PO—helping authenticate each invoice before they’re presented for approval. Another value add: The administrators have direct access to all open purchase orders—including remaining balance amounts and status reports to ensure data integrity.
With the back-end support of IAConnect, every invoice is processed consistently and routed where they need to be and when they need to be there. For full transparency, you get a bird’s eye view of the entire process—capturing the number of invoices outstanding, how many there are at any given stage, the total liability amount, and even aging statistics on invoices processed.
All of the approved entries are uploaded into Deltek Costpoint® using preprocessors to create the appropriate transaction entries. VPConnect also allows you to access any supporting documents captured on the vendor portal directly from the Deltek screens.
By leveraging VPConnect, Deltek clients and project-focused organizations can realize the following benefits:
Reduce days sales outstanding (DSO) by enabling subcontractors to submit time and expense data electronically
Reduce internal costs by eliminating the need for manual data entry into Deltek
Allow project resources to track travel, expense and labor entries online
Automatically attach supporting documents to invoices to create billing packages
Eliminate the paper-based process to capture and approve supporting documents
The invoice entry feature in VPConnect allows users to enter new invoices and submit them electronically to Deltek Costpoint.
